Funds were raised to promote the adoption of Move, a smart contract development language that includes built-in safeguards to protect projects from vector attacks.
Participants included Varys Capital, the Avalanche fund by Blizzard, dao5, Borderless Capital, Colony, Elixir Capital, BENQI, and other key contributors within the Wormhole developer ecosystem.
Angel investors who took part include Chandler Song, Ryan Fang, and Stanley Wu from Ankr, George Lampeth from dao5, Calvin Liu from Eigenlayer, Smokey the Bera from Berachain, and Anurag Arjun from Avail.
Commenting, William Patterson, head of venture at Varys Capital, said:
Funds raised will also introduce the Movement SDK, a tool designed to facilitate the creation of secure and high-performing Move environments for established blockchains.
The Movement framework leverages Move virtual machines to achieve horizontal interoperability, making it compatible with various blockchains.
Within the Move network, a translator assists in converting popular smart contract languages like Solidity into Move, offering built-in re-entrance protection against attacks.
In a comment, Rushi Manche, co-founder of Movement Labs, said:
The critical component of the Movement SDK is M1, a modular, scalable, and composable blockchain engineered to combine performance with accessibility.
M1, launching on Avalanche, solves the cold-start issue faced by non-EVM protocols. It allows developers to benefit from alternate virtual machines without bridging assets, managing multiple wallets, or leaving familiar networks.
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Source: Cryptocurrency - investing.com
